We have deprecated bracket orders. However, the functionality of bracket orders can be easily created by using reduce-only flag with your orders. An order that is marked as reduce only can only reduce a position and would be cancelled if it would result in increasing the position.
How to create a take-profit order: Place a reduce-only order at your take profit target level.
How to create stoploss order: Place a reduce-only stop limit/ market order at your stoploss level.
How are reduce-only orders different from bracket orders?
- Bracket orders always close the position completely. Reduce-only can be used to close a position partially. This means by employing reduce-only orders you can create multiple take profit and stop loss levels for any position.
- The size field in bracket orders will automatically update as the position size changes. This behaviour is slightly different in reduce-only orders. The size of a reduce-only order cannot exceed the size of open position. If position size goes down, the size of the reduce-only order will go down too. However, if position goes up, the size of reduce-only order stays unchanged.